On Friday both EURUSD and GBPUSD dropped significantly. However, both currency pairs are rising today. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, during the Asian trading session, the EURUSD managed to rise a bit. Then, at the beginning of the European trading session, the price started going down deeply. In consequence, it finished the day significantly below the S1 support level, at 1.085.
Today, the EURUSD is rising, though. The price is already above 1.087. If the buyers continue generating firm demand, the price might go up above the Pivot Point and even reach 1.09 today. But if the bears counterattack, the price could drop to 1.085.
GBPUSD
The GBPUSD was also really volatile yesterday. First, the price managed to rise. It even reached 1.254 at noon. Then, the price started going down significantly. In consequence, it finished the last session of the week at 1.245.
Today, the GBPUSD is rising, though. The price is already above 1.248. If the buyers continue generating firm demand, the price might go up above the EMA 77 and even reach 1.25. But if the bears counterattack, the price could return below 1.246.
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